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Bulgarian companies are interested in the Pirallahi Industrial Park and currently exploring the possibilities for future cooperation, according to AzerNews.
Azerbaijani Ambassador to Bulgaria Nargiz Gurbanova said in an interview with Trend that the embassy has sent Bulgarian business associations the necessary information about the activities of the Industrial Park in Pirallahi, which aroused great interest among businessmen.
"Great prospects for cooperation between the two countries exist in pharmaceutical sector. Bulgaria was traditionally considered one of the main countries supplying pharmaceutical products to the countries of the Union of Soviet Socialist Republics (USSR), including Azerbaijan, in the 1970s and 1980s,” the ambassador mentioned.
The Pirallahi Industrial Park was created by the order of the President of Azerbaijan Ilham Aliyev in September 2016 and specializes in the production of pharmaceutical products.Currently, 3 pharmaceutical plants are being constructed in the Pirallahi Industrial Park.
The project cost is more than USD 20 million. The joint plant is to be operational in summer 2018 and in the first stage it will produce 84 medicines.
Moreover, Azerbaijan and Bulgaria plan to sign an agreement on social security.
The document will regulate the right to receive pensions and unemployment benefits for citizens of Azerbaijan and Bulgaria who work or worked in one of the two countries (currently, Azerbaijan has such agreements with Turkey, Ukraine, Belarus, Moldova, Kazakhstan, Uzbekistan, Kyrgyzstan, Turkmenistan and Georgia).
Bulgaria recognized the independence of Azerbaijan on January 14, 1992 and the diplomatic relations between the two countries were established on June 5, 1992.
Both countries are members of the Organization of the Black Sea Economic Cooperation (BSEC).
The trade turnover between Bulgaria and Azerbaijan reached almost USD 6.39 million in January-June 2017, USD6.3 million of which fell on imports from this country, according to Azerbaijan’s State Customs Committee.
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